Document Scanner Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Market Outlook

Rising inclination towards advance technologies are also growing the need for innovative solution which encompass the entire process towards digitized society. Go paperless and converting paper document into digital format is more preferred by consumers mainly by business people. End-users such as banking, government and telecom sectors are going digital. Sharing documents and information is an important part of these sectors. Document scanners help organizations to receive and transfer documents and make the work more convenient. Moreover, increasing demand for portable document scanners are expected to propel the growth of document scanner market across the globe. Portable document scanners provide the ease of accessibility to documents for both business purposes and also to college or libraries. Compact and lightweight designs of document scanner which can easily fit into bags or travel bags are expected to boost the demand for portable document scanners.

Document scanners are incorporated with advance image enhancement software which helps in adjusting automatic contrast and image for original papers which are worn or faded. Kofax’s VirtualReScan (VRS) is the most popular and widely accepted document scanner software for image processing. This software can be installed in PC connected with the scanner and helps in reducing improving image quality of the document. Growing demand for handheld documents is expected to boost the expansion of document scanner market across the globe. VuPoint, TaoTronics Scanner, Ectaco C-Pen and the Wolverine are some of the widely accepted handheld scanners.

Huge penetration of smartphones across the globe is also rising the development of advance mobile apps. Document scanning apps such as dropbox business, adobe scan for iPhone, intsig camscanner, microsoft office Lens for android and many more are gaining more popularity among consumers as the documents can also be saved on cloud. As people are tend to opt for convenient solutions profit margins of leading vendors of document scanners may get affected by the increasing inclination of consumers towards mobile based scanning apps.

Document Scanner Market Segmentation

Global Document Scanner Market is segmented on the following basis:

Based on Product Type

• Work Group Document Scanner
• Departmental Document Scanner
• Low Volume Production Document Scanner
• Mid-Volume Production Document Scanner
• High Volume Production Document Scanner

Based on Component Type

• Hardware
• Software

Based on End-User

• Banking & Finance Services
• Enterprise
• Education Sector
• Government Sector

Based on Geography

• North America (U.S. & Canada) {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}
•  Latin America (Brazil, Mexico & Rest of Latin America) {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}
• Rest of World {Market Size (USD Million ), Growth Analysis (%) and Sales (In Units)}

Market Size and Forecast (2016-2024)

Global document scanner market valued USD 22.5 million in 2015 and is expected to grow at a CAGR of 13.7% during the forecast period.

North America is the dominating region and accounted for 39% revenue share of for global document scanner market in 2015. Huge adoption of document scanners in banking, education and public sector is increasing the expansion of document scanner market in North America region.

Large scale deployment of document scanners in enterprise, banking, education and government industries is expanding the market demand for document scanners in Asia-Pacific and Europe region. Asia-Pacific document scanner market is expected to grow at a CAGR of 14.0% during the forecast period. Europe document scanner market valued USD 8.2 million in 2016 and is estimated to reach 22.1 million by the end of 2024.

Drivers and Challenges to Market Growth

High speed, high image quality and effective paper handling are features of document scanner which is driving the growth of market globally. Ease of integration and high compatibility with document imaging applications are fuelling the need for advance document scanners. Moreover, cloud computing is becoming an important extension to enterprises for data storage and accelerates workflows which increases productivity of employees. Scanned documents would preferably be used for storage as well as distribution of critical-business documents.

However, multifunction printers are negatively impacting the growth of document scanner market. Many companies or office already own multifunction printers and are comfortable in using them. This may hinder the adoption rate of document scanner over multifunction printers.

Key Market Players

• Fujitsu Ltd.
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis
• Canon Inc.
• Seiko Epson Corporation
• Hewlett-Packard Company
• i2S DIGIBOOK
• The Eastman Kodak Company
• Panasonic Corporation
• BancTec Inc.
• Newgen Software, Inc.
• Mustek Systems
• Plustek
• Protronics Digital
• Scan-Optics
• Scantron
• Xerox

Covered in this Document Scanner Market report

Market Synopsis

Market Segmentation

The Global Document Scanner Market is segmented as follows:

• By Product Type (Market Size, Demand Analysis and Growth Analysis)
• By Component Type (Market Size, Demand Analysis and Growth Analysis)
• By End-User (Market Size, Demand Analysis and Growth Analysis)

By Region

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors

• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks

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